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Businesses today are beginning to adapt to a world increasingly driven by data and analytics (D&A). Findings of a recent KPMG International survey indicate that all but 1 percent of organizations surveyed regard D&A as at least somewhat important to their business strategy and 56 percent said they changed their business strategy to meet the challenges of D&A, most often to increase their capacity to analyze big data.

Are we in the midst of a Big Data revolution? Analysts believe that the quantity of data available to businesses will increase by 40 percent every year for the foreseeable future. Endeavoring to collect all this data is one thing, but businesses increasingly need to correlate it, analyze it and extract actionable value.

And what about the tax implications? Relatively little has been written about the specific application of Big Data to the world of tax, and more specifically to the area of indirect tax. By their very nature, indirect taxes contain transaction level data which, when mined and analyzed appropriately, may be transformed into knowledge and real actionable value for businesses.

Welcome to “Going beyond the data – Indirect Tax”, a series of technical articles written by KPMG Global Indirect Tax Services professionals to help you better understand and prepare to deal with the Big Data revolution in the context of indirect taxes. The article series will appear in Bloomberg BNA’s International Tax Planning: Indirect Tax publication over the coming months and added to this page.

“Going beyond the data – Indirect Tax” will explore tax policy and administration in the age of Big Data; transformation of the compliance function into competitive advantage; the use of technology tools essential for the tax function in a Big Data world; and the anticipated evolution of indirect taxation over the next decade on account of the Big Data revolution.

Complete Article Collection

This publication (PDF 1.42 MB) is a compilation of the complete Going Beyond the Data articles series by KPMG Global Indirect Tax Services.

Articles

The future of indirect taxes - 2020 and beyond!

In this article (PDF 1.52 MB) KPMG Global Indirect Tax Services predicts two global megatrends which affect indirect taxes, and how each will impact on global developments in the use of data and analytics; specifically, the shift towards more comprehensive VAT and GST bases, and the shift towards a global framework for applying VAT or GST to cross-border flows of services and intangibles.

In this article (PDF 1.52 MB), KPMG indirect tax leaders from KPMG member firms explore the significant opportunity that technology and data analytics is bringing to the rapidly changing indirect tax function. It takes a closer look at: the transaction tax challenge, tax processing in ERP systems, value-added tax monitoring through data analytics and driving business value from tax analytics.

Indirect tax compliance in an era of big data

In this article (PDF 1.52 MB), KPMG indirect tax leaders from KPMG member firms examine the practical implications of indirect tax compliance in an era of Big Data by exploring the questions: How can data be leveraged to improve compliance? How can analytics reduce the complexity of working across multiple jurisdictions? What does a ‘data-driven’ indirect tax approach look like in practice? and What are the compliance costs and misconceptions?

How trade data will transform your business

In this article (PDF 1.52 MB), KPMG’s Global Trade & Customs professionals explore how having access to data in a timely manner can transform the business across several key areas including: customs, indirect tax and supply chain. Specific focus is given to: harnessing trade data for reporting and analytics, managing the risk of non-compliance, generating tangible business value, and taking business to the next level with trade data.

Tax policy and administration in the age of Big Data

In this article (PDF 1.52 MB), KPMG indirect tax leaders from KPMG member firms provide a regional perspective on the value of new data and analytics capabilities adopted by tax authorities around the world and the steps being taken to address top agenda items including: closing the tax gap, collecting and sharing cross-border information and increasing operational efficiency.

Tax Data is Big Data

In this article (PDF 1.52 MB), Timothy Gillis and Philippe Stephanny of KPMG in the US set the stage concerning the field of indirect taxes and Big Data by exploring the notion that tax data is Big Data and that data contains hidden non-tax value that can be mined to enhance the performance of the overall business enterprise.